3 wheat exporter. MARKET NEWS Chicago soybean futures lost more ground to trade near a two-week low, weighed down by expectations of a bumper U.S. harvest this autumn. That’s because these are coffee can stocks. GASC said the purchase was comprised of 350,000 tonnes of Russian wheat and 120,000 tonnes of Ukraine wheat. The company’s business is “steadily recovering” worldwide as most of the coffee chain’s stores have reopened with the easing of coronavirus-led restrictions, it said on Tuesday.
The Turkish lira remains under pressure, and the dollar is within a whisker of TRY7.0, while the euro is holding below the record high set on Monday near TRY8.2175. Here’s the one-year performance of the dollar against the euro, yen, Canadian dollar, and British Pound. The WSJ Dollar Index, which tracks the U.S. currency against those of major trading partners, fell 0.3%, extending its decline this month to 3.1%. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell by 0.02 per cent to 93.68. Dollar index:After declining for multiple sessions in a row, the dollar index posted a marginal gain yesterday. The dollar is weaker against all the major currencies, and the greenback fell further below JPY105 that was violated in the North American session yesterday. While there are plenty of dollar bulls amidst a global dollar shortage, they have been incorrect in their bullish outlook thus far. It opened at 74.83 against the US dollar gained further ground and touched 74.78 against the US dollar, up six paise over its last close of 74.84.
The US dollar continues to trade heavily against the Canadian dollar.
At any rate, we believe that gold and gold miners are currently very undervalued and expect the price to increase rapidly over the next few years. The VanEck Vectors Gold Miners ETF (NYSEARCA:GDX) is up 42% year-to-date and many of the junior miners that we hold in the Gold Stock Bull portfolio are up 100%. Source: U.S. Gold Investor Presentation The project has measured and indicated resources of 272 thousand and 654 thousand ounces of gold. Of the above gold prospects, the U.S. Gold Corp. Copper King project looks the most investable. Source: U.S. Gold website As we move forward, and gold prices continue to rise, this adds resources and reserves to the company’s estimates. Source: U.S. Gold website In 2020, U.S. Gold updated its economic analysis of the project to adjust for increased gold prices. Gold prices hit another record Monday, with the precious metal now up 27% this year, while Silver prices have also surged. This means double the annual production of gold to 80,000 ounces of gold and 20 million pounds of copper.
This created a “spinning top” candlestick for both gold and silver, where the closing price was near the open price and with significantly higher and lower intraday prices.
Bank officials said the lender has also benefited from limited exposure to some troubled global sectors like cruise lines and tour operators, and smaller hotels, retail and oil-and-gas companies. Gasoline demand is expected to show a slower recovery this week with more cases arising in the southern part of the country. Rail was Canada’s oil lifeline in recent years when cheaper pipelines ran full and crude had no other exit from landlocked Alberta. The Turkish gas and oil exploration drama in the East Mediterranean which put Greece and Cyprus on a war footing with Turkish forces has taken a surprise turn. It has been rising as oil prices recover, bank lending is extended, policymakers are buying government bonds. U.S. crude stockpiles fell sharply by 6.8 million barrels in the week to July 24 to 531 million barrels, data from an industry body showed. According to a US oil and gas agency, commercial crude stocks in the country dropped by 6.83 million bbls in the week ending the 24th of July.
Oil prices rose after a surprise drop in U.S. crude inventories. Gasoline inventories increased by 1.08 million bbl, compared to anticipation of a 733,000 bbl draw.
With the big rush into the hot tech stocks since March 23, the NASDAQ index has risen to new record highs. Senior Trump administration personnel and national security council members were also said to have discussed the threat for some months, said The Times. But what if we told you You see, most inexperienced investors focus on the most speculative part of the market – namely, tech stocks, listed on the NASDAQ. While stocks ended lower on Tuesday amid concerns over stimulus negotiations, U.S. futures inched into the green overnight as traders awaited the Fed’s latest policy decision. “The stimulus and broader market strength fed down to the European high-yield market,” said Stephen Smith, a director at Barclays PLC who has worked on several recent bond sales. The New York Fed has developed early indicator of the economy’s progress based on 10 different daily and weekly indicators covering consumer behavior, the labor market and production.
“The New York Fed’s Weekly Economic Index (WEI) is reversing course, showing real-time, high-frequency economic data is again turning negative after climbing back from April and May’s coronavirus-driven swoon. “Ahead of the US Federal Reserve’s policy today, the central bank has extended its emergency lending programs by three months to the end of 2020. This time the market’s response might be different than last time, and aside the Fed meeting comments (which hold back the market), for now the bill is more pertinent.
The Asia Times reported several days ago that Beijing has admitted that its 2.4-kilometer Three Gorges Dam spanning the Yangtze River in Hubei province “deformed slightly” after record flooding. Beijing also remain high amid China’s tighter grip on Hong Kong and the UK’s phasing out of Huawei gear. But thanks to Beijing’s heavy-handed response to the outbreak, the mainland economy has already returned to growth. Most of the infections were tallied in Urumqi, the capital of China’s far-western Xinjiang Province, while one case was reported in Beijing. The reason: an EU view that Beijing should make more concessions to level the playing field for European businesses.
Meanwhile, the EU is determined to expand its arsenal of defensive tools to counter China s trade and investment expansion. In Europe, the ECB’s asset purchases and the support promised to the most debt-laden economies from a proposed €750-billion recovery fund, is buoying investor sentiment. Global Headlines Merkel s succession | The Wirecard scandal is emerging as a significant factor in the battle to control Germany after Chancellor Angela Merkel steps down. The European Union is quietly playing down the prospect of reaching a deal with China this year to open up the Chinese market more to foreign investors. After the 31st round of negotiations last week, the EU stressed a need for Chinese concessions rather than the year-end target date for an overall agreement. Sanofi and GlaxoSmithKline are in talks to sell their vaccine to the U.S., EU and global organizations. The European Central Bank and the Bank of England are hoovering up government debt, and in the ECB’s case, investment-grade corporate bonds as well.
A day after the ECB requested eurozone banks suspend their dividends until January 2021, big lenders across Europe posted their earnings. Since then, however, the 27-nation EU has been frustrated by what it says is China s reluctance to match rhetoric about pursuing fairer policies with action.